How to Put Your Vacation on a Payment Plan

Do you want to vacation and travel the world but feel like you cannot drop a large sum of money, at one time, to book a vacation?  Well, you are not alone.

There are many people that cannot make large lump sum payments on vacations.  Because so many of us are not able to do so, the feelings of a vacation being out of reach haunts many emotions in people.

Many people are not aware that you can put your vacation on a payment plan.

Here is how you can do it:

1. Plan Ahead.

The key to being able to put your vacation on a payment plan is planning.  As early as you can start planning, you should get started.  This allows you to be able to make several small payments on your vacation.  The earlier that you get started the more time you have to make payments towards your vacation prior to the departure date of your vacation.  

If you are looking to take an all-inclusive beach vacation and air is included, then you can start as early as 331 days prior to departure.  For example, if you travel dates are 9/18 – 9/27/2022, then you can begin booking your vacation as early as October 31, 2021.

With cruises, you can start earlier.  Cruises release their sailings as far as 2 and 3 years out.  Therefore, you can book and start paying on your cruise vacation more than a year in advance.

2. Make a deposit. 

Once you have decided on the type of vacation that you want to take and the dates you want to travel, then make a deposit on your vacation and secure the fun.  When you work with a travel agent, you can apply a deposit of as low as $225 – $300 per person and secure your vacation package and pricing for your upcoming vacation.  The deposit amount is deducted from the total cost of your vacation leaving you a balance that will need to be paid by a certain date.  That date is generally 30 – 45 days prior to departure.

3. Create a payment schedule.

The second most important part of the payment plan process is creating a payment schedule for your vacation.  

There are many of my clients that will put a deposit on a vacation and never make any payments on their vacation.  That is the whole point of putting your vacation on “layaway”!  You must make payments.

I have seen clients pay a deposit, never make payments on their vacation and then when the balance due date arrives, they are struggling to make the large payment on their vacation and request an extension.  If you have made no effort in paying on your vacation for months, what is an extra day or week going to help?

I have created a Payment Plan Calculator that will help with creating a payment plan for any vacation.  It is what I use to break down payments on all my vacations.  Every vacation that I book for myself, I have a payment schedule created for it and you should too.

4. Be disciplined.

The most important part of the payment plan process is discipline.  You must be disciplined and be committed to making payments towards your vacation.

Do not take time for granted because you booked so far in advance.  Time flies fast and the balance due date will sneak up on you before you know it.  

Stick to your payment schedule that you have created for yourself so that when the balance due date comes around, your balance is not so large because you have been tackling the payments little by little over a period.

5. Travel Savings Account.

A bonus to making payments to your vacation package is once you get used to making payment on your vacation over such a long period of time and it is in your budget, then you can continue that same energy and turn that schedule into a regular travel fund account and start a travel savings account thus allowing you to take several trips a year.

Once you put your payments into your budget and get use to paying then you can create a habit of putting money to the side towards living your best life through travel several times a year.


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One thought on “How to Put Your Vacation on a Payment Plan

  • Pamela Prymer

    Thanks for introducing the payment plan option for a vacation!! We love making smaller payments and paying our vacation off months before we travel. It allows you to save like you stated and splurge on excursions, spas, and etc.

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